Originally posted by: David Miller
I called it...
Kevin's right.You truely are a sad human being.
Originally posted by: David Miller
I called it...
Kevin's right.You truely are a sad human being.
Yeah, I am really sad that I was and am right. The really sad thing is that you believe Kevin...
Originally posted by: Don
tom writes: "Obama ran up a $10 trillion deficit . . ."
President Barack Obama ran up a $8.59-trillion deficit.
Ref: US Debt Under Each President
tom writes: "[Obama] had one of the lowest GDP growth rates of any President.
Under President Obama the "average annual real GDP growth" was 1.5%
Ref: Economic Growth by President
n.b. : The US GDP growth for President Obama reflects the years 2009 through 2015; in the final year, 2016, growth was 1.6% - so the poor old DonDiego supposes the overall average didn't change much.
This is, indeed, the lowest economic growth of any post-WWII President.
DonDiego suggests tom was well "within the ballpark" with his claim.
*edited to add*
The deficit is growing very fast under President Trump, . . . likely to exceed the deficit figures above.
Once again, one of our Trumpers confuses the budget deficit with the national debt. I've explained the distinction several times. How stupid can they be??
I also take issue with the idiotic premise that any President creates or inhibits GDP growth. GDP growth is due to a myriad of factors, most of which are global and beyond the purview of any President. Also, most of the domestic effects are beyond the President's purview as well.
The truth of the matter is that neither Trump nor Obama had all that much effect on the economy. They more set the tone than anything else. Obama was willing to create budget deficits in order to provide a stimulus to recover from the 2008-2009 recession. Trump is willing to create such deficits because he wants to serve the billionaires who support him.
Originally posted by: bbking
Kevin's right.You truely are a sad human being.
BBking, don't feed the troll. See my earlier thread. Stalker gets off on insulting people and lying--though he usually can't come up with anything more to say than "HAHAHA" or "MAGA." He's not intellectually equipped to discuss the issues, and engaging with him is a waste of time and bandwidth.
In the post of 9:09pm, 7 December Kevin Lewis writes: "Once again, one of our Trumpers confuses the budget deficit with the national debt. I've explained the distinction several times. How stupid can they be??"
"The national debt represents the total amount of money that the federal government has borrowed to cover its annual budget deficits. "
So, . . . what's the problem ?
I believe that it was Obama that told us that we need to get used to 2% max GDP growth, as that's what he believed was going to be reality moving forward.
Originally posted by: Boilerman
I believe that it was Obama that told us that we need to get used to 2% max GDP growth, as that's what he believed was going to be reality moving forward.
Hence the fact that people like me didn’t think we were in the “worst recovery ever”. But people like you did. And Tom railed about in on a daily basis.
So the lesson learned is 2% GDP growth is either “awesome” or “the worst” depending on who is in the White House. But then there’s the matter of the deficit. Conservatives cried bloody murder when the Obama administration was reducing the deficit.....and then took a vacation when Trump more than doubled it.
weird how that works, huh?
What's weird is how your mind works...
Originally posted by: Don
In the post of 9:09pm, 7 December Kevin Lewis writes: "Once again, one of our Trumpers confuses the budget deficit with the national debt. I've explained the distinction several times. How stupid can they be??"
"The national debt represents the total amount of money that the federal government has borrowed to cover its annual budget deficits. "
So, . . . what's the problem ?
Budget deficit=annual
National debt=cumulative
Also, the national debt is NOT the sum of all federal budget deficits; it can be reduced in years when there is a government surplus. So it is the sum of all annual deficits and surpluses--a running total. The national debt also has components that do not have directly to do with government expenditures. For instance, when a federal bond is redeemed, the national debt drops by that amount.
The two quantities are each important, but they are entirely different things.
Originally posted by: Boilerman
I believe that it was Obama that told us that we need to get used to 2% max GDP growth, as that's what he believed was going to be reality moving forward.
And what exactly is wrong with 2%? What's the optimal percentage?
The economy has to grow at the same rate as the population to maintain a given standard of living. That most recent rate is 0.62%. Therefore, the standard of living is rising. Obama was cognizant of the fact that our economy is maturing--it's not like China's or India's--and therefore, the growth of past years (like in the dot.com era) might not be sustainable.
